IGM Financial Inc. announces December 2006 mutual fund assets and sales

Winnipeg – January 3, 2007: IGM Financial Inc. (IGM) (TSX: IGM) today reported preliminary mutual fund assets under management as at December 31, 2006 and preliminary mutual fund sales for the month of December. Total mutual fund assets under management were $107-billion. Total mutual fund net new money was $345.7-million including net new money at Investors Group of $100.6-million, net new money at Mackenzie of $234.8-million and net new money at Counsel Group of Funds, a division of Investment Planning Counsel, of $10.3-million.

* Net New Money (referred to as Net Sales in prior periods) is defined as Sales less Redemptions and is consistent with the terminology now used by The Investment Funds Institute of Canada (IFIC).

1 includes $556-million (November 2006 - $535-million, December 2005 - $388-million) in Counsel Group of Funds mutual fund assets invested in other managers' mutual funds.

2 includes $3.5-million in net redemptions (2005 - $0.4-million in net redemptions) of Counsel Group of Funds mutual funds invested in other managers' mutual funds.

Investors Group announced mutual fund sales of $478.5-million, redemptions of $377.9-million and net new money of $100.6-million for the month of December 2006. Long-term fund gross sales, redemptions and net new money for the month of December 2006 were $389.9-million, $329.5-million and $60.4-million, respectively.

Mackenzie announced mutual fund sales of $843.1-million, redemptions of $608.3-million and net new money of $234.8-million for the month of December 2006. Long-term fund gross sales, redemptions and net redemptions for the month of December 2006 were $500.1-million, $504.7-million and $4.6-million, respectively.

Counsel Group of Funds, a division of Investment Planning Counsel, reported mutual fund sales of $26.5-million, redemptions of $16.2-million and net new money of $10.3-million for the month of December 2006. Long-term fund gross sales, redemptions and net new money for the month of December 2006 were $23.5-million, $15.3-million and $8.2-million, respectively.

For more information on mutual fund activity, please refer to individual press releases for each reporting Company.

Additional information about mutual fund assets and fund flows will be available on the Investment Funds Institute of Canada (IFIC) web site (www.ific.ca) on approximately the 15th of each month as part of a Canadian industry-wide release of monthly statistics.

IGM Financial Inc. is one of Canada's premier personal financial services companies, and the country’s largest manager and distributor of mutual funds and other managed asset products, with over $119 billion in total assets under management. Its activities are carried out principally through Investors Group, Mackenzie Financial Corporation and Investment Planning Counsel. IGM Financial Inc. is a member of the Power Financial Corporation group of companies.